Sean Kim, who oversaw product for TikTok in the U.S. until last year, claimed the social media giant launched its $2 billion fund as a 'reactive measure' against competition.
’s U.S. operations, said the company’s $2 billion creator fund was not launched with the altruistic goal of helping creators monetize on the platform. Instead, according to the executive, TikTok created the fund as a “reactive measure” against competition like YouTube and Snap and as a way to keep creators engaged on the platform.
“Platforms don’t really care if you are successful at monetization. I’ll be completely honest,” Kim, who now leads the creator business platform Kajabi as president and chief product officer, said during a wide-ranging panel at SXSW over the weekend. “The reason why is because their metrics and north-star metrics are 100 percent focused on retention, [daily active users], publish rates, active days. Monetization of creators is not even on there. It’s like way, way, way down here.
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